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Callinex Mines Inc.
Summary
| Project: | Nash Creek | |
|---|---|---|
| Deposit: | Nash Creek | |
| Location: | Canada | |
| Commodities: | Zinc-Lead-Silver | |
| Date: | 1/18/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 18-1-2018: Callinex Mines Inc. announces an Exploration/Drilling Update report for its Nash Creek deposit at the Nash Creek project. Drilling results incl. 15m @ 6.63% Zn, 0.44% Pb, 6.53g/t Ag from 113m. VANCOUVER, Jan. 18, 2018 /CNW/ - CallinexMines Inc. | |
| Resources: | (Resource): 9.033Mt @ 3.58% ZnEq. (Ind.) and 1.113Mt @ 3.58% ZnEq. (Inf.) at project | |
| CP/QP: | [Overall Report]: Jason Levers (Not stated) | |
| ABSTRACT: | VANCOUVER, Jan. 18, 2018 /CNW/ - CallinexMines Inc. (the"Company"or"Callinex") (TSX-V:CNX; OTCQX:CLLXF) is pleased to announceassay results fromfour drill holesas part oftherecently completed 35 drill holecampaign at the Company's 100%owned NashCreek Deposit located within the Bathurst MiningDistrict ofNewBrunswick (See Figures 1, 2 and 3). Drill hole NC17-257 returned exceptional nearsurfaceresults with a 15.0mintersection grading 7.2%zincequivalent ("ZnEq.") mineralization including 9.0mof 11.1%ZnEq. fromastarting depth of 113.0m(See Table 1). Thesefour holes haveexpanded the NashCreek Depositan additional 180mto the north oftheinitial 2017 summer drilling campaign,and 600mnorth ofthe mineralresource(See Figure 4). The deposit remains open forexpansion to the north and south Max Porterfield, Presidentand CEO, stated, "Our success in expanding thestrikelength ofthe deposit by nearly 50%over thelastsixmonths of exploration speaks to theexciting potential ofthe project. While wecontinueto focus on exploration advances in 2018, weareeager to publish an updated resourceand maiden PreliminaryEconomic Assessment for the NashCreek Deposit in thecomingmonths. Wearetargeting the PEAto havea base-casescenario ofastandalone open pit operationwith potentialto process between 15 to 20 million tonnes ofmaterial. Callinex plans to delineatetheextent ofthe NashCreek Depositalong strikein both directionsalong a 3 kmlong zinc-lead soilanomaly, ofwhich only thesouthern 2 kmhas been drilled and iscoincident with the NashCreek Deposit. The Company also plans to testsatellitezones thatare open forexpansion and commencea district-scaleexploration programalong the 20 kmlong land package. The NashCreek Deposit hostsa near surfaceindicated resourcetotaling 712 million pounds Zn. Eq.and inferred resourcetotaling 88 million pounds ofZnEq. (See Table 2). The Company's Superjack hostsan additional near-surfaceinferred resourcetotaling 328 million pounds ofZn Eq. in the Bathurst MiningDistrict (See Table 2). | |
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